Working from Home? Cybersecurity and Compliance Tips to Consider


ACA International has insurance, compliance and educational resources to help members take preventative action.

3/12/2020 12:30

Working remotely comes with added compliance steps for the accounts receivable management industry, but it may be something agencies are permitted to do temporarily as a result of the current coronavirus disease (COVID-19) outbreak or in the event of a natural disaster in your community.

State licensing agencies or federal regulators will have to issue guidance for entities they cover, like the recent announcement from the Connecticut Department of Banking, but there are steps companies can take to prepare for working remotely.

In an interview with Bloomberg, Jamil Jaffer, a senior vice president for strategy, partnerships and corporate development with IronNet, discussed cybersecurity tips for people who need to work from home.

Virtual private networks (VPNs) are available for companies and individuals to purchase, even on a monthly basis, to ensure secure communications, Jaffer said.

It’s also critical to make sure your cyber liability insurance is current, and coverage is easy and affordable for ACA members. A cyber liability insurance policy is designed to protect you from lost income and cover defense fees your business may be required to pay as a result of a data breach.

Collectors Insurance Agency, a subsidiary of ACA, provides members exclusive access to risk management products and services tailored to each members' specific needs.

Debt collection agencies must consider state and federal laws when deciding whether to allow employees to make collection calls from home or other remote locations.

As ACA International reported recently, states may start issuing temporary work- from-home policies, allowing remote work for collection agencies. The State of Connecticut Department of Banking has issued new criteria to allow licensed consumer credit entities to temporarily work from home in response to concerns about the COVID-19.

The ACA SearchPoint document “Collecting From Home—What Your Agency Should Know” has general guidance on compliance while working remotely and ACA recommends members watch for updates from their state licensing department.

ACA will continue to monitor state and federal licensing updates and provide relevant news and compliance updates in ACA Daily.

Contact Sales Manager Dereck Tessmer at [email protected] or (952) 259-4224 for resources and information on the CIA cyber liability and executive risks policies. 

For more information on how the ACA Licensing staff can assist with your licensing needs, please contact us at [email protected] or call (952) 926-6547.

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